Gold and Silver Edge Higher as Traders Eye Jackson Hole
Gold and silver prices ticked up Tuesday morning, with investors treading carefully ahead of the Federal Reserve’s annual Jackson Hole symposium later this week.
December gold futures rose $6.30 to $3,384.70, while September silver gained $0.076 to $38.115.
Markets remain cautious as Fed Chair Jerome Powell is set to deliver a closely watched speech Friday that could outline the path for U.S. interest rates in September. Stocks traded mixed globally, and U.S. indexes looked set for a softer open.
On the geopolitical front, President Donald Trump spoke with Russian President Vladimir Putin Monday, pushing for a potential summit with Ukraine’s Volodymyr Zelenskiy and hinting at possible prisoner releases as part of confidence-building steps. Zelenskiy welcomed U.S. involvement, saying security guarantees must form part of any deal.
READ MORE:
Millions Are Mining Pi Network on Their Phones: Price Crash Becomes a Warning to Investors
Meanwhile, in Asia, the People’s Bank of China injected $65 billion into its financial system — its largest move since July — helping stabilize bonds after weeks of heavy selling as investors shifted into equities.
Elsewhere, the U.S. dollar weakened slightly, crude oil hovered around $62.75 a barrel, and the 10-year Treasury yield stood near 4.33%.
Technical Outlook
Gold bulls maintain the near-term advantage, eyeing $3,500 as the next resistance level, with support at $3,319. Silver traders hold a similar edge, with targets set toward $39.91 and downside support near $36.28.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alexander Zdravkov is a person who always looks for the logic behind things. He has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
